• The Wormhole Bridge exploit was one of the largest crypto hacks in history, with over $325 million stolen.
• A counter-exploit conducted by Oasis and Jump Crypto recovered a portion of the stolen assets worth $140 million.
• The High Court of England and Wales ordered Oasis to retrieve the remaining assets with a court-authorized third party.
Wormhole Bridge Exploit
The Solana-based Wormhole Bridge was hacked for $325 million after an attacker managed to exploit a security flaw, making it one of the largest exploits in crypto history.
A group of white hats, along with two crypto firms, launched a “counter-exploit” against the malicious entities and clawed back a portion of stolen assets tied to the exploit. Wormhole offered a $10 million bug bounty and white hat agreement to the attackers in exchange for returning the funds, which never transpired. The vulnerability was also patched. This led to an investigation with government and private resources as well.
Retrieval Of Assets
Oasis received an order from the High Court of England and Wales to take all necessary steps to retrieve assets involved with the wallet address associated with the exploit. According to reports, $140 million worth of assets were successfully recovered following this counter-exploit initiated via Oasis Multisig. The funds were returned to a court-authorized third party approved by the court itself.
Bug Bounty & White Hat Agreement
Wormhole had previously offered a bug bounty and white hat agreement in exchange for returning lost funds, which never transpired due to lack of response from attackers themselves. This resulted in further investigations into malicious activities carried out by them on decentralized finance platforms such as Oasis Multisig and other blockchains based on similar technologies such as Ethereum or Tron blockchain networks.
A successful counter-exploit was conducted by two crypto firms along with some help from government resources that helped recover part of stolen assets worth approximately $140 million from Wormhole Bridge Exploit that took place earlier last year .